Blue Barn Wealth LLC Sells 222 Shares of Accenture plc (NYSE:ACN)

Blue Barn Wealth LLC decreased its holdings in Accenture plc (NYSE:ACN) by 18.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,009 shares of the information technology services provider’s stock after selling 222 shares during the quarter. Blue Barn Wealth LLC’s holdings in Accenture were worth $355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ACN. State Street Corp lifted its holdings in Accenture by 1.8% during the 3rd quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after buying an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after purchasing an additional 4,345,039 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Accenture by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock worth $1,746,455,000 after purchasing an additional 140,726 shares during the period. Swedbank AB raised its position in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Accenture in the 4th quarter worth $666,495,000. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ACN. UBS Group lifted their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Piper Sandler increased their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Jefferies Financial Group reduced their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Stifel Nicolaus dropped their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price target on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Price Performance

NYSE ACN opened at $348.27 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock’s fifty day moving average price is $366.41 and its 200 day moving average price is $358.30. The company has a market cap of $217.94 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35.

Accenture (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Insider Transactions at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the transaction, the general counsel now owns 20,526 shares of the company’s stock, valued at approximately $7,446,422.28. This represents a 18.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.